Gasoline

Gasoline Prices Stay Flat at $2.29 Per Gallon

The national average price of gasoline has remained flat in February, fluctuating only a few cents for the month and reaching $2.29 per gallon on Feb. 27, reports AAA.

The price of regular unleaded is the same price it was a week and a month ago, and is 55 cents higher that it was a year ago. In about two weeks, prices are expected to increase as more refiners switch from the winter blend to summer-blend gasoline. Driver demand should also increase, according to AAA.

Federal data shows a similar trend. The national average price increased 1.2 cents to $2.314, which is 53.1 cents higher than a year ago, according to the U.S. Energy Information Administration.

The nation’s top five least expensive markets include South Carolina ($2.03), Alabama ($2.06), Tennessee ($2.07), Mississippi ($2.08), and Texas ($2.08). The nation’s top five most expensive markets include Hawaii ($3.10), California ($2.94), Washington ($2.75), Alaska ($2.74) and Nevada ($2.57).

The average fuel economy of new vehicles sold in the U.S. in December fell to 25 mpg — down 0.2 mpg from a revised November value, according to Brandon Schoettle and Michael Sivak, researchers from the University of Michigan's Transportation Research Institute (UMTRI).

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.

China is setting a deadline for automakers to end the sale of fossil-fuel powered vehicles as the country looks to reduce oil consumption and pollution and push for the development of electric vehicles. Regulators are working on a timetable for the ban.

The average national price of gasoline remained at $2.29 per gallon for the week ending March 27 amid discussion by the Organization of the Petroleum Exporting Countries (OPEC) to extend a production cut by another six months.